The Chief Executive Officer of the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) Archie Hesse has denied claims by the former deputy governor of the Central Bank that they were involved in the engagement that led to the award of the Interoperability contract.

Former deputy governor Johnson Asiama has claimed that although GhiPSS was deeply involved in the process from the beginning, they were not given the project because they lacked the financial muscle to independently carry it through.

“They were always involved and you could talk to their management. We involved them deeply. GhIPSS did not have the financial muscle to execute the project…I had seen their documents…unless their boss was falsifying the documents for us,” he told Starr News Tuesday.

Responding to the claim on Morning Starr Wednesday, Mr. Hesse told host Francis Abban that GhiPSS was only introduced to the project after the contract had been awarded.

“Our aim is not to make profit. We will rather break even and have all citizens using the platforms. GhiPSS wasn’t part of the bidding process. After the contract was awarded, the company that won the bidding was asked to integrate into our system. We have a whole range of products and services to offer but if another entity has been assigned to do that, we just have to focus on what the entity cannot take care of,” he said.

He also said they are in the position to pay back the loan being given them to execute the project by the Central bank.

“We look at the cost of our operations. Sustainability is very key to us…profitability is not that important to us. If we are able to migrate Ghana to a cashless society, it means the Central Bank will not have to use too much cash to get cash printed and those funds can be channeled elsewhere. We are confident that with the number of products we are offering and will be offering in the next 5 years, we will be able to repay the loan”.

The controversial Mobile Money Interoperability platform which was launched by the Vice President Dr. Mahamudu Bawumia has been executed by the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) for 4million Ghana cedis, a huge reduction from the GHC4.6 billion earmarked for the project by the previous administration. The previous managers of the Central bank have denied the claim accusing government of playing propaganda with the issue.